Sanctuary Advisors LLC increased its holdings in Astera Labs, Inc. (NASDAQ:ALAB – Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,843 shares of the company’s stock after purchasing an additional 1,687 shares during the period. Sanctuary Advisors LLC’s holdings in Astera Labs were worth $1,627,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Astera Labs by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 13,827,506 shares of the company’s stock valued at $2,300,344,000 after buying an additional 84,365 shares in the last quarter. State Street Corp lifted its holdings in shares of Astera Labs by 32.5% in the fourth quarter. State Street Corp now owns 3,099,809 shares of the company’s stock worth $515,684,000 after buying an additional 760,358 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Astera Labs by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,429,078 shares of the company’s stock worth $403,598,000 after acquiring an additional 104,935 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of Astera Labs by 25.5% during the fourth quarter. Fred Alger Management LLC now owns 1,934,688 shares of the company’s stock worth $321,855,000 after acquiring an additional 393,250 shares during the last quarter. Finally, Morgan Stanley grew its stake in Astera Labs by 33.0% during the fourth quarter. Morgan Stanley now owns 1,934,467 shares of the company’s stock valued at $321,818,000 after acquiring an additional 480,009 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.
Astera Labs Price Performance
NASDAQ:ALAB opened at $330.89 on Thursday. The firm has a market capitalization of $56.72 billion, a price-to-earnings ratio of 223.57, a PEG ratio of 3.70 and a beta of 3.66. Astera Labs, Inc. has a 1 year low of $97.89 and a 1 year high of $499.48. The business has a 50 day simple moving average of $355.80 and a 200-day simple moving average of $224.15.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ALAB. Morgan Stanley lifted their price target on shares of Astera Labs from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and set a $270.00 price objective on shares of Astera Labs in a report on Wednesday, May 6th. Bank of America raised their price objective on Astera Labs from $240.00 to $450.00 and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. Needham & Company LLC lifted their target price on Astera Labs from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, TD Cowen increased their price target on Astera Labs from $225.00 to $425.00 and gave the company a “hold” rating in a research note on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.00.
View Our Latest Stock Report on ALAB
Insiders Place Their Bets
In other news, Director Manuel Alba sold 136,974 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $442.01, for a total value of $60,543,877.74. Following the completion of the sale, the director owned 1,287,524 shares in the company, valued at approximately $569,098,483.24. This trade represents a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jitendra Mohan sold 139,951 shares of Astera Labs stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $200.16, for a total transaction of $28,012,592.16. Following the transaction, the chief executive officer directly owned 3,929,183 shares of the company’s stock, valued at approximately $786,465,269.28. This represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,676,845 shares of company stock valued at $444,928,806 over the last three months. 10.40% of the stock is owned by company insiders.
Astera Labs Profile
Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.
The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.
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